Mining Cable Market 2024 Research Report by Leading Industry Players and Growth Rates
8 February 2019: Mining Cable Market is estimated to grow at a significant CAGR over the forecast period as the scope and its applications are rising enormously across the globe. Mining cable is flame retardant; and formed to withstand long-term exposure or performance in the tremendously harsh environment, although providing the utmost levels of output and safety. They are known to offer outstanding drag resistance, flexibility, and torsion. Ethylene-Propylene Rubber (EPR) is used as an insulation material and Polyethylene chloride (CPE) is an outer cable jacket.
Mining Cable Market is segmented based on type, product type, application, and region. Type MP-GC, Type W, Type SHD-GC, Type G-GC, and other types could be explored in Mining Cable in the forecast period. Type G-GC is mainly used in light-to-medium duty and industrial mining applications. On the other hand, type SHD-GC is a portable power cable mainly used as a high voltage distribution underground mine and heavy-duty trailing cable on mining equipment. Type W is a portable power cable caters to mainly light-to-medium and industrial mining applications.
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The market may be categorized based on applications like surface mining, underground mining, and others that could be explored in Mining Cable in the forecast period. Underground mining application sector comprises of longwall shearers, shuttle cars, bridge conveyors, high-voltage distribution, and hydraulic power packs. Whereas, surface-mining applications comprises accessory equipment, drills, pumps, stripping shovels, drag lines, and loading shovels.
Globally, North America accounted for the substantial market share of Mining Cable and is estimated to lead the overall market in the upcoming period. The United States is a major consumer of Mining Cable in this region. Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the fastest pace in the foremost period. The developing countries like India and China are the major consumers of Mining Cable in this region.
The key players of Mining Cable Market are PUDA, Southwire, SKL, CSE Cables, Caledonian-cables, General Cable, Baosheng Group, Priority Wire & Cable, Prysmian Group, Chint Group, Metric Cables, Texan, Viakon, and Nexans. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition.
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